Frank Klein Sells 1,835 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Frank Klein also recently made the following trade(s):

• On Friday, March 14th, Frank Klein sold 44,553 shares of Rocket Lab USA stock. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $18.78 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a market capitalization of $8.52 billion, a P/E ratio of -50.76 and a beta of 2.06. The company’s fifty day moving average is $24.54 and its two-hundred day moving average is $19.01. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. On average, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Morgan Stanley lifted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.06.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its position in shares of Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after buying an additional 334 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in shares of Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock worth $1,898,000 after buying an additional 383 shares in the last quarter. Signaturefd LLC lifted its holdings in Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after purchasing an additional 653 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Rocket Lab USA by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock valued at $554,000 after purchasing an additional 696 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Rocket Lab USA by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock valued at $384,000 after purchasing an additional 746 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.